Knowles Corporation $KN Shares Sold by Rhumbline Advisers

Key Points

• Rhumbline Advisers reduced its stake in Knowles Corporation by 6.7% in Q1, now owning about 256,874 shares valued at $3.9 million.
• Analysts recently upgraded Knowles shares from a "buy" to a "strong-buy" rating, with an average price target of $21.00.
• Insider selling includes a significant transaction by SVP Robert J. Perna, offloading 56,130 shares, representing a 45.75% decrease in his position.

Rhumbline Advisers trimmed its position in Knowles Corporation (NYSE:KN - Free Report) by 6.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 256,874 shares of the communications equipment provider's stock after selling 18,443 shares during the quarter. Rhumbline Advisers owned approximately 0.30% of Knowles worth $3,904,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Strs Ohio purchased a new stake in shares of Knowles during the 1st quarter worth approximately $664,000. Jane Street Group LLC acquired a new position in shares of Knowles in the 1st quarter valued at $3,335,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Knowles by 7.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 238,557 shares of the communications equipment provider's stock valued at $3,626,000 after buying an additional 15,827 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Knowles in the 1st quarter valued at $533,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Knowles by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,722 shares of the communications equipment provider's stock valued at $786,000 after buying an additional 2,245 shares during the period. Hedge funds and other institutional investors own 96.35% of the company's stock.

Wall Street Analyst Weigh In

KN has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Knowles from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Craig Hallum lifted their price objective on Knowles from $20.00 to $22.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Knowles currently has an average rating of "Moderate Buy" and an average price target of $21.00.

Knowles Price Performance

KN stock opened at $22.15 on Monday. Knowles Corporation has a 1 year low of $12.19 and a 1 year high of $22.31. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.29 and a current ratio of 2.00. The stock's 50 day moving average price is $20.07 and its 200 day moving average price is $17.53. The firm has a market cap of $1.90 billion, a P/E ratio of 76.40 and a beta of 1.50.

Insider Buying and Selling at Knowles

In other Knowles news, SVP Robert J. Perna sold 56,130 shares of the business's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $20.47, for a total value of $1,148,981.10. Following the completion of the transaction, the senior vice president directly owned 66,552 shares in the company, valued at approximately $1,362,319.44. The trade was a 45.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Air A. Jr. Bastarrica sold 10,000 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $20.94, for a total value of $209,400.00. Following the completion of the transaction, the vice president owned 62,537 shares of the company's stock, valued at $1,309,524.78. This trade represents a 13.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.54% of the company's stock.

Knowles Company Profile

Knowles Corporation offers capacitors, radio frequency (RF) filtering products, balanced armature speakers, micro-acoustic microphones, and audio solutions in Asia, the United States, Europe, other Americas, and internationally. It operates through three segments: Precision Devices (PD); Medtech & Specialty Audio (MSA); and Consumer MEMS Microphones (CMM).

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